PPE Product Liability Insurance

PPE Product Liability Insurance – Product Liability Insurance for Personal Protective Equipment that your company designs, manufactures, markets and distributes.

Amidst the recent COVID 19, or Coronavirus outbreak companies are racing to assist local, regional and Federal authorities as well as healthcare operations and hospitals with much needed medical supplies such as masks, gloves, filters, gowns as well as other medical supplies and Personal Protection Devices, PPE. As as standard, these private and public entities are requiring manufacturers, distributors and suppliers distributing these medical suppliers maintain Product Liability Insurance.

However, in our complicated world simply selling a product has become cause for concern, and moreover a medical supply product liability exposure. So much so that many wholesale and retail operations, pharmaceutical entities and health insurance carriers require that you as the manufacturer, distributor or wholesaler have products liability insurance on the medical equipment you supply. Additionally, as a retailer of these products, you may be held responsible if there is an injury that results out of use of a product you sell.

What is PPE Personal Protection Equipment Product Liability Insurance?

Products Liability Insurance Coverage for your PPE operation typically provides for the policy holder in the event that a suit arises out of bodily injury or property damage as a result of the policy holders operation or from the use of the insured’s products. This can be loss to personal property, business property, injury or death. These items may include but are not limited to gloves, masks, face shields, gowns, or personal protections equipment.

What does Products Liability Insurance cover?

Should Your Company Have PPE Product Liability Insurance?

Anyone that is responsible for the design, manufacture, sale or distribution of a PPE component or PPE end user product. This applies to any business or individual that manufactures his own product or even if the product’s manufacturing is subcontracted out buy another operation, even if the operation is overseas.

How are PPE Product Liability Insurance Costs Determined?

A Products Liability Insurance Policy is rated on several factors.

• • What are the product you need insurance for
  • How many of your products will be distributed into the market
  • What are your products used for and who will be using them
  • How long are your products intended to last; are they durable or expandable?
  • What are your products made of

• How clearly defined are the usage instructions, directions and guarantees and or warranties that are provided with the product
• What claims does the manufacturer or distributor make about the product, either in writing, demonstration or in media.

What Does PPE Product Liability Insurance Cost?

Products liability insurance costs are much like any other liability insurance product. There no real average rate because they are based on the specific type of product you manufacture, retail or market; how much you will putting into the marketplace, where it originates from; as well as testing procedures in place. There are some products that pose very little potential to cause harm or damage and there are others that have a higher propensity to be risky, and therefore carry higher premiums. The following are options available on a Medical Supply Product Liability Insurance Policy

1. Products Liability Coverage
2. Blanket Additional Insured for Managers, Landlords, or Lessors of Premises
3. Professional Liability Limits are separate from General Liability
4. Business Property for real estate, office equipment, and machinery
5. Primary and Contingent Medical Professional Liability available in most states
6. Business Income Coverage – Actual Loss Sustained
7. Employee Theft Coverage
8. Automobile coverage including non-owned and hired car liability that can be included under our package policy
9. Tenants Legal Liability limit of $1,000,000 included on the General Liability form
10. Product Recall Expense Coverage
11. Inland or Ocean Marine Insurance for property in transit or in storage at a 3rd party warehouse.

Key Benefits of our PPE Product Liability Insurance

General Liability Insurance Coverages For a Medical Supply Product Liability Insurance Policy

• Comprehensive General Liability – Limits to $1,000,000 per occurrence/$2,000,000 aggregate with excess liability coverage up to $100,000,000
• Products Liability Coverage
• Premises Liability
• Personal Injury Liability
• Volunteers as Additional Insureds
• Employee Benefits Liability

Property Insurance Coverages

• Blanket limits with large in-house capacity
• Special Causes of Loss on buildings, contents, business income and extra expense
• Crime, Equipment Breakdown, Inland Marine and all Property coverages under one policy
• Agreed Amount endorsement available with property appraisal
• Business Income Coverage – Actual Loss Sustained
• Ocean and Inland Marine coverage for property in transit and at 3rd party locations

Automobile Insurance Coverages

• Insurance for your company’s owned autos
• Coverage for your Hired and non-owned auto
• Rental reimbursement for commercial and private passenger vehicles
• Minimum physical damage deductibles of $500/$1,000

Crime and Fidelity Insurance Coverages

• Employee Theft may be provided for limits up to $25,000
• Theft, Disappearance and Destruction of client property

Directors and Officers Liability

• Defense costs in addition to the Limit of Liability
• Most favorable venue wording for punitive, multiple or exemplary damages
• Order of payments language with priority placed on indemnifying Individual Insured first

Professional Liability Insurance Coverages

• Occurrence or Claims-Made forms available
• Separate coverage part so no erosion of General Liability aggregate limit
• Provides vicarious coverage for sub-contracted physicians, dentists and optometrists
• Contingent, Vicarious Liability for employed and volunteer physicians
• Primary Professional Liability for employed and volunteer physicians and dentists while in the course of employment is available

PPE Product Liability Insurance Enhancement Endorsements Available

• Include $50,000 limits each for Business Travel Accident Benefit, Donation Assurance, Emergency Real Estate Consulting Fee, Identity Theft Expense, Image Restoration and Counseling, Key Individual Replacement Expenses, Kidnap Expense, Terrorism Travel Reimbursement, Workplace Violence Counseling. $25,000 limits for each Conference Cancellation, Fundraising Event Blackout, Political Unrest
• ($5,000 per employee), Temporary Meeting Space Reimbursement and $1,500 Travel Delay Reimbursement Crisis Management Enhancement Endorsement
• $25,000 limit for crisis management emergency response expenses incurred because of an incident giving rise to a “crisis” Loss Control Services
• Product specific web-based loss control solutions
• Free On-line interactive Defensive Driver Training course and examination
• Regular E-Flyer communications on current Loss Control issues and Large Loss Lessons Learned
• Strategic partnership with best in class vendor for discounted background & motor vehicle record (MVR) checks

Product Liability Insurance for Medical Supplies